Market Wrap / gloom looms

Global market jitters saw the local market start the shortened trading week in the red, with investors heading for the exits after a sharp weekend sell-off overseas. The S&P/ASX 200 fell as much as 1.5% in early trade before clawing back some losses in afternoon trade to finish down 0.24% at 8,604.20 points. 

The latest Westpac Consumer confidence data further dampened the mood, falling almost 3% in June to its weakest level in half a century.

Geopolitical concerns weighed on gold players as the miners led losses across the index. Northern Star Resources closed down 3.5% along with Evolution Mining, which shed 4.4%.

In corporate news, oOh!media rallied 9.2% following a $765 million takeover bid from Bain Capital. Elsewhere, James Hardie 's board said it will "vigorously defend" a class action brought about by shareholders who purchased securities between May and August 2025.

Among other movers, Superloop gained despite chief executive, Paul Tyler, selling $1.8 million worth of shares.

And Nine Entertainment edged higher as it agreed to sell Pedestrian Group to Vinyl Group as part of a broader portfolio alignment.

Tonight, US May CPI data is set to be released.